Nassar counsels Phoenix Tower International on loan for Latin America expansion

Nassar Abogados advised wireless communications infrastructure provider Phoenix Tower International (PTI) in Central America on the securing of a $485 milion senior secured-term loan facility that the US-based company aims to use to finance its continued expansion across Latin America.



PTI successfully upsized and extended its existing credit facility and strengthened the composition of its syndicate group highlighting the company’s continuing success. 

The transaction consists of a $290 million senior-secured 5-year term loan, and $195 million delayed draw.

The credit facility provides financing for PTI’s existing wireless infrastructure, new tower development and acquisitions across PTI’s existing Latin America markets, as well as many additional Latin America markets including Argentina, Belize, Bolivia, Chile, Costa Rica, Colombia, Dominican Republic, Ecuador, El Salvador, the French West Indies, Guatemala, Guyana, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Suriname and Uruguay.



PTI already owns and manages more than 6,000 communications towers, 974 km of fibre and other wireless infrastructure and related sites throughout Costa Rica, Panama, El Salvador, Colombia, Peru, Mexico, the Dominican Republic, French West Indies, Jamaica, and the United States, including Puerto Rico and the US Virgin Islands.

The credit facility was led by Scotiabank, with Goldman Sachs, Deutsche Bank, Santander, ING Capital, Natixis, Banco General, Orix Capital, and Towerbank participating and is the first Pan-Latin America facility of its kind secured by infrastructure assets. Nassar Abogados has offices in Costa Rica, Nicaragua, Honduras, El Salvador and Guatemala.

“With this financing, PTI has full flexibility to continue to grow the business across Latin America with available debt financing at our disposal,” according to the company’s CEO, Dagan Kasavana. 

“This will allow us to deliver for our customers, sellers and business partners in an expedited manner with a syndicated lender group comprised of long term relationships that PTI has had since inception, as well as new relationships that will help PTI take the business to the next level in the years to come,” he added.



In the US, PTI was represented by Locke Lord, while Scotiabank and the lender group were represented by White & Case.